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penalty is part of the president's health care law. how much impact will this really have on hoopspitals? joining us, vice president for clinical affairs at the nyu langone medical center. andrew, thank you for joining us. scary story out of the "washington post" today that brought it to our attention here. which if hospitals have a lot of people coming back for the same treatment in a short period of time, they're going to get whacked by the government. how severe a problem is this? >> it is a big problem nationally and right now we're talking about the cost control provisions of health care reform. so everything that you've been hearing about in the news, the general news anyway, has been about health insurance reform. this is now how are we going to pay for the health insurance reform and an easy target is to take it out of the hospitals because medicare pays hospitals a lot of money. every hospital grapples with hospital readmissions. there's a lot of controversy around penalizing hospitals if their patients, for example, don't com
penalty is part of the president's health care law. how much impact will this really have on hoopspitals? joining us, vice president for clinical affairs at the nyu langone medical center. andrew, thank you for joining us. scary story out of the "washington post" today that brought it to our attention here. which if hospitals have a lot of people coming back for the same treatment in a short period of time, they're going to get whacked by the government. how severe a problem is this?...
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Oct 3, 2012
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. >> because federal law doesn't give them the jurisdiction to find out. >> that story and more when 60 minutes on cnbc returns. [ticking] ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. whatever your business challenge, extra curricular activities help provide a sense of identity and a path to success. joining the soccer team. getting help with math. going to prom. i want
. >> because federal law doesn't give them the jurisdiction to find out. >> that story and more when 60 minutes on cnbc returns. [ticking] ♪ [ construction sounds ] ♪ [ watch ticking ] [ engine revs ] come in. ♪ got the coffee. that was fast. we're outta here. ♪ [ engine revs ] ♪ governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a...
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. >> because federal law doesn't give them the jurisdiction to find out. >> that story and more when 60 minutes on cnbc returns. [ticking] up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. we know you. we know you have to rise early... and work late, with not enough sleep in between. how you sometimes need to get over to that exit, like, right now. and how things aren't... just about you anymore. introducing the all-new, smart-sensing... honda acc
. >> because federal law doesn't give them the jurisdiction to find out. >> that story and more when 60 minutes on cnbc returns. [ticking] up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will...
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Oct 9, 2012
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under the law, the government could recover triple damages. this is a $570 million suit against wells fargo. we're following it. we'll teep you posted. back to you. >> just off the lows, scott, thank you very much. we're heading toward the close, otherwise, with about 30 minutes left. the dow down 100 points at this hour. when we come back, we look at the health of wall street. new york state comptroller on the looming -- whether the looming fiscal cliff and increasing regulation are threatening wall street's comeback these days. plus, speaking of which, nearly half of all wall streeters are expecting a bigger bonus this year. will they get it in and more importantly, do they deserve it? that debate is coming up. and from bull market speed bump to chaos. breaking out at a bull fight in colombia. we're just wondering, is this scene a preview of what may be coming to our stock market? tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm tra
under the law, the government could recover triple damages. this is a $570 million suit against wells fargo. we're following it. we'll teep you posted. back to you. >> just off the lows, scott, thank you very much. we're heading toward the close, otherwise, with about 30 minutes left. the dow down 100 points at this hour. when we come back, we look at the health of wall street. new york state comptroller on the looming -- whether the looming fiscal cliff and increasing regulation are...
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Oct 5, 2012
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>> the law is the law. the law is that $460 billion is going to have to be cut out of defense. they should be planning for that now, because those cuts are supposed to begin on the first of january. those are facts. facts are stubborn things. since when do we disobey laws because we anticipate changes in the law? i have never heard of such a thing and i think it is outrageous to make that assumption because that's not how government's supposed to work. >> let me turn you, if i could, to the employment report of this morning, senator. i don't know whether you were able to hear the previous conversation -- >> yes. >> -- but jack welch tweeted out this morning that he basically doesn't believe these numbers, the 7.8% unemployment rate and he alleged that those numbers were manipulated by the administration. we just had a republican congressman on who believes the same thing. what's your opinion? what do you make of this number, and given what you see in your own backyard, does it ring true? >> well, i think that it's pretty significant that for the first time in nearly four years
>> the law is the law. the law is that $460 billion is going to have to be cut out of defense. they should be planning for that now, because those cuts are supposed to begin on the first of january. those are facts. facts are stubborn things. since when do we disobey laws because we anticipate changes in the law? i have never heard of such a thing and i think it is outrageous to make that assumption because that's not how government's supposed to work. >> let me turn you, if i...
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the government there saying it will likely pass a law forcing banks to reduce the amount owed on mortgages. are we in the same spot in joining us with the president of team investments, tanya macyo. and new face to cnbc, welcome the u.s. economiest at b and b par rag way. good to have you on the show. thank you very much. like to get to you, first of all, you do not believe in further u.s. government intervention in the housing market but do believe putting the onus on the banks. >> i absolutely do the taxpayers billed out the bank $14 trillion. the banks are sitting on $1.64 trillion of reserves. i think it's time that the banks taken responsibility and truly help the homeowners that should be helped. not every homeowner should you can helped. truly upside down and can't afford their home, better to short sale, get out, foreclose, doesn't matter, get out of that bad situation, but people that are in their homes, that principal reduction could truly help and not only will it help the homeowner, it will truly help economy and act like a stimulus package. >> yelena, do you believe as well it
the government there saying it will likely pass a law forcing banks to reduce the amount owed on mortgages. are we in the same spot in joining us with the president of team investments, tanya macyo. and new face to cnbc, welcome the u.s. economiest at b and b par rag way. good to have you on the show. thank you very much. like to get to you, first of all, you do not believe in further u.s. government intervention in the housing market but do believe putting the onus on the banks. >> i...
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the labor department is asking defense company ceos to delay notifying employees, even though the law dictates that they must. and today lockheed martin says it won't issue layoff notices before the election as it had planned to do. . it said it receivered assurances from the white house that the money would not be cut in january. how is that possible? aren't the costs mandatory if we hit the fiscal cliff? well, yes, but the administration could prioritize based on any criteria it chooses. perhaps it will make sure funds go to ensure that thousands of lockheed employees in northern virginia, a key swing state won't lose their jobs. but contract in states like georgia or alabama, well, those assurances may not come. that's just my observation. before we go, that will do it for the "closing bell" today. the market, of course, higher at the close but off of the best levels of the afternoon. hope you'll follow me on twitter and
the labor department is asking defense company ceos to delay notifying employees, even though the law dictates that they must. and today lockheed martin says it won't issue layoff notices before the election as it had planned to do. . it said it receivered assurances from the white house that the money would not be cut in january. how is that possible? aren't the costs mandatory if we hit the fiscal cliff? well, yes, but the administration could prioritize based on any criteria it chooses....
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some republicans say the white house is bending labor laws for votes. senator john mccain is with us live. we'll talk about that and more with the last time presidential candidate on the gop side and the age old debate wall street bankers are they overpaid and are more cuts ahead. we got that and more top of the hour, jobs. >> sounds great. not often a finance minister is laughed at when tlifrg a speech but that's exactly what happened to spain's finance minister when he told a crowd in london that his country doesn't need a bailout. he was speaking to students at london school of economics and they chuckled at that. nevertheless the euro moving above 1.35 versus u.s. dollar. boris, good to see you. what do you make of the situation with the euro, with merkel going to greece next week, walking in to the lion's den. messy day. >> yes. but i think ultimately what you have to take away from this week is when draghi came out and said don't mess with me. basically there's a coalescing of ideas in the eurozone now around the ont and esm where most of the euro
some republicans say the white house is bending labor laws for votes. senator john mccain is with us live. we'll talk about that and more with the last time presidential candidate on the gop side and the age old debate wall street bankers are they overpaid and are more cuts ahead. we got that and more top of the hour, jobs. >> sounds great. not often a finance minister is laughed at when tlifrg a speech but that's exactly what happened to spain's finance minister when he told a crowd in...
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then they had to go to an equity law firm. this is encouraging to me. i would think this actual bailout is one that says, we are now past, the pig is much further along. you don't want a python swallowing a pig, but it's going to follow it when it is finished. >> words to live by, jim. words to live by. >> i think about that often, actually. >> we just listened to an incredible hour of television on "squawk box" with zell talking about what he's seen in the economy, talking more about corporate i.t. upgrade cycles. here's what zell said not too long ago. >> nobody wants to make commitment to be on tomorrow. we run a company that does a lot of corporate enterprising installations. and one of their triggers is when the enterprise projects start getting delayed, we are heading for a recession. and that's exactly what you're looking at right now. >> when the enterprise project starts getting delayed, we are heading for a recession. that collides with the calls we are seeing regarding cisco right now. jim, channel checks going on? >> cisco, morgan stanley pu
then they had to go to an equity law firm. this is encouraging to me. i would think this actual bailout is one that says, we are now past, the pig is much further along. you don't want a python swallowing a pig, but it's going to follow it when it is finished. >> words to live by, jim. words to live by. >> i think about that often, actually. >> we just listened to an incredible hour of television on "squawk box" with zell talking about what he's seen in the economy,...
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still, many say the laws in d.c. need to be tighter to prevent the rich and powerful from getting even more rich. >> there is a reason why 7 of america's 10 weltiest counties are now in the halo of washington, d.c. but what do we know the line between absolute ethical violation and just good timing really? >> right now the laws are really about disclosure. there's not much preventing people from enacting or even proposing legislation that would benefit their companies. now when you look at this compared to the overall american millionaire population, as a group they didn't do that much better so it is hard to say this is proof that these guys are making money from their jobs in d.c. but clearly there needs to be better disclosure, not just disclosure but also rules saying you can't participate in legislation. how hard should that be? >> the story in the "washington post" suggested even when there may be a conflict of interest, the ethics panel is like -- they don't care. >> they don't police their own. as we saw with
still, many say the laws in d.c. need to be tighter to prevent the rich and powerful from getting even more rich. >> there is a reason why 7 of america's 10 weltiest counties are now in the halo of washington, d.c. but what do we know the line between absolute ethical violation and just good timing really? >> right now the laws are really about disclosure. there's not much preventing people from enacting or even proposing legislation that would benefit their companies. now when you...
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>> reporter: tyler, by law, today is the last date that candidates can campaign here today in venezuela. a huge rally. a pro-president hugo chavez rally is scheduled for right here in the capital, caracas, later today. supporters of president chavez say they believe the future of of this oil rich country is best left to president chavez's control. at 58 years old he's been a power here for 14 years. the opposition at 40 years old, young, energetic, some say a sexy candidate who believes the oil wealth here has been squandered. his promise to re-invest in the neglected oil infrastructure in this country to get more oil to market. of course, if that oil draws so much of the u.s. interest, opec estimates venezuela has the largest reserves of oil in the world. the country is currently the fourth largest supplier of oil to the united states. but experts say the industry which was nationalized under chavez has been neglected. maintenance issues and lack of investment explain why the oil output here has actually dropped 30% in the last decade. punctuating the problem db president chavez which
>> reporter: tyler, by law, today is the last date that candidates can campaign here today in venezuela. a huge rally. a pro-president hugo chavez rally is scheduled for right here in the capital, caracas, later today. supporters of president chavez say they believe the future of of this oil rich country is best left to president chavez's control. at 58 years old he's been a power here for 14 years. the opposition at 40 years old, young, energetic, some say a sexy candidate who believes...
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that it is really about public employee unions because the private unions are protected by federal law, but what this question is on the ballot is basically saying that the rights of collective bargaining apply to all public employees, so let's take it one step further. what it really means is when it comes to michigan and the state government's ability to say, look, foodservice in the schools will be handled by private companies, bus transportation handled by private companies, what you're looking at is 2 to $3 billion in additional costs onto the state government in michigan calling collective bargaining a state protected right for state union employees, and so number one, this is a huge issue for the state of michigan. it is big for the governor. i think that if you look at what's happened in wisconsin, you're going to see hopefully the same level of success over in michigan. people understand that while we're -- >> we're a little short on time. i hate to cut you off here. there is going to be interesting questions at this week's debate and i would like to have you back next week to
that it is really about public employee unions because the private unions are protected by federal law, but what this question is on the ballot is basically saying that the rights of collective bargaining apply to all public employees, so let's take it one step further. what it really means is when it comes to michigan and the state government's ability to say, look, foodservice in the schools will be handled by private companies, bus transportation handled by private companies, what you're...
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. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back door, through the central banks. >> what about spain, michelle some people were posing the question that the greece certain lives the story of the day today with the protests, with ms. merkel going to greece, but spain really is what we need to be focused more on. do you agree with that? >> much bigger, much bigger in size. greece, in the end, is the bigger pictures that we see on television, but when it comes to the actual amount of money, the european union could actually handle that cost. spain is much, much bigger. >> thank you, michelle. simon, over to you. >> also watching, as you will be aware, sue, apple, very closely today. shares officially in correction territory, down 10% from the record high we
. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back door, through the central banks. >> what about spain, michelle some people were...
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>> there's a national law whatever. >> that is stupid. you're right. >> that other hotel owners have to allow a new hotel to be built. they're old and they've been there for years. you can't build a hotel there unless you kiss a lot of feet and do a lot of whatever. >> that is wrong. >> john is our guest host today. we'll have more insights from him as we continue, john taylor. >>> joe has stocks to watch ahead of this, the open on wall street and september jobs report. "squawk" will be back after this. >>> do you like "squawk box"? do you like facebook? well, you'll love "squawk box" on facebook. next week, we launch our official facebook page, "like" the show page and get updates, interviews, pictures and more. "squawk box" on facebook, kicks off monday. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scot
>> there's a national law whatever. >> that is stupid. you're right. >> that other hotel owners have to allow a new hotel to be built. they're old and they've been there for years. you can't build a hotel there unless you kiss a lot of feet and do a lot of whatever. >> that is wrong. >> john is our guest host today. we'll have more insights from him as we continue, john taylor. >>> joe has stocks to watch ahead of this, the open on wall street and...
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computer systems should not include any components made by these companies and they may have violated some laws. how important is this, dave? >> it's important. chairman rogers was an important component of the piece we did early this month that was on chinese cyber espionage. it focused on huawei. a company discovered the chinese were in their system, nortel. they went out of business. some claim it's because of huawei. chairman rogers is trying to raise the alarm on this. i can only tell you from firsthand experience, so many ceos of fortunate 500 companies who would not come on the program that we did a number of months ago because they fear for their business in china have admitted to me face to face that their firewalls had been breached by the chinese, that they'd been informed of that by the fbi. and so by doing this, chairman rogers simply is able to raise a larger awareness of it. as for the huawei allegation, we'll see. we haven't seen the report yet and the specifics. >> the reason why the issue has been treated with -- this has been going on over the course of a decade at least. it'
computer systems should not include any components made by these companies and they may have violated some laws. how important is this, dave? >> it's important. chairman rogers was an important component of the piece we did early this month that was on chinese cyber espionage. it focused on huawei. a company discovered the chinese were in their system, nortel. they went out of business. some claim it's because of huawei. chairman rogers is trying to raise the alarm on this. i can only...
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. >> is there a china law in this country? a china lobby saying stay away from them because we need them so badly? >> i don't know. >> a lot of companies need to sell to china. the last thing they want to do, i don't think they want to hear about a trade war, given they own so many kentucky fried chickens in china. >> there's a trillion dollars in treasury bonds pretty strong lobbying. >> that's true. that's true. >> i think you're right. the main thing about china is it is more complicated that it seems. >> finally, a couple interesting notes on banks, david, the makenzie report saying the business model will provide sustainable profits and there's a poll of bankser who believe their numbers will get better, not worse. >> optimism never dies when it comes to people's pay. you look around them to see everything falling down but i was a star. i served to get paid well. we talked a lot about it. i think when you talk to the executives who run many of the global institutions, it is coming down in a true way. it's a seminole chang
. >> is there a china law in this country? a china lobby saying stay away from them because we need them so badly? >> i don't know. >> a lot of companies need to sell to china. the last thing they want to do, i don't think they want to hear about a trade war, given they own so many kentucky fried chickens in china. >> there's a trillion dollars in treasury bonds pretty strong lobbying. >> that's true. that's true. >> i think you're right. the main thing about...
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a law firm that those entrepreneurs and companies in south florida. welcome to the program. >> thank you. >> let's get this clear now, your business, your law firm works with small businesses and entrepreneurs. >> right. >> they come to you and say, hey, i've got a legal problem, a government problem. that happens. >> all the time. stuart: i want a list, what's are the problems they're running up against or into with the obama administration. >> first, the president doesn't appreciate the entrepreneur. the comments you didn't build it, that goes to the heart of it. let's talk specifics. specifically regulations, obamacare is a big heavy burden that was thrown on the entrepreneurs desk and saying, now comply. but no one read the bill when it was passed, 2000 page plus and now all the regulators are at it writing regulations around that bill. stuart: it doesn't apply to businesses with fewer than 50 employees. >> yeah, but look, small businesses are 50 plus as well and businesses who have 20 or 30 employees want to be 50 plus and that prevents them from
a law firm that those entrepreneurs and companies in south florida. welcome to the program. >> thank you. >> let's get this clear now, your business, your law firm works with small businesses and entrepreneurs. >> right. >> they come to you and say, hey, i've got a legal problem, a government problem. that happens. >> all the time. stuart: i want a list, what's are the problems they're running up against or into with the obama administration. >> first, the...
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it's law that just makes sense. cheryl: it is time for your west coast minute. a magnitude earthquake has struck. the u.s. shall jiggle survey says it hit last night. it was 53 miles south of -- mexico. authorities are watching for aftershocks. moving up north. the federal enforcement of california's medical marijuana dispensaries is being called in for question for a lack of effectiveness. they have shut down 600 illegal stores. they continue to operate. it looks like a massive peanut butter recall is expanding. the fda has discovered 35 new cases of salmonella. to most recently in washington state. they are recalling products that are sold at trader joe's, target and even costco. dennis: a new earning season. the biggest batch of ipos in month. sandra smith has the details. sandra: odds of initial public offerings. this will be the biggest week for ipos number wise. nine companies will be making their debut. here is a look at just a few of them's. the cloud -based technology company. the second company shutter stock. this is an online stock photographer. also
it's law that just makes sense. cheryl: it is time for your west coast minute. a magnitude earthquake has struck. the u.s. shall jiggle survey says it hit last night. it was 53 miles south of -- mexico. authorities are watching for aftershocks. moving up north. the federal enforcement of california's medical marijuana dispensaries is being called in for question for a lack of effectiveness. they have shut down 600 illegal stores. they continue to operate. it looks like a massive peanut butter...